I am so befuddled by this freakout over tariffs.
These sums are not very large. Full stop. The scare chart from Bloomberg: $15.6bn in customs duties collected so far this month, up from "normal" amounts of $8-10bn. Lots of money, yes. I don't want to minimize this fiscal restriction. But look at the Big Money rows in the Daily Treasury Statement. Corporate income taxes collected this month are $117bn. The self-employed made estimated tax payments to the IRS of $306bn. FICA taxes from paychecks were $219bn. And more.
